Music Year-End Report 2024

IN THIS REPORT

Streaming’s New Frontiers

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In Luminate’s 2024 Midyear Music Report, we shared a myriad of insights surrounding streaming growth on a global level, physical music trends (from D2C to variants), genre shifts in the streaming landscape and super fan behaviors. Now, with the second half of 2024 behind us, additional data helps paint a fuller picture of the music industry in 2024. In the following 2024 Year-End Music Report, we dive deeper into several key trends to watch in 2025 — genre shifts on streaming, highlight changes in consumption across international markets, delve into songwriting representation and provide additional insights across gaming, live music, social media and more. Fueled by in-depth analyses of Luminate’s streaming, sales and consumer research data, this report allows us to stay consistent with Luminate’s mission to serve as the most trusted partner for entertainment data. These findings are meant to be helpful for business planning across not just the music industry’s needs but for all industries that are concerned with music — from financial investment to tech product development, from brand partnerships to gaming activations, and beyond. As always, the Charts included in this report are presented in partnership with Billboard, Luminate’s exclusive chart partner for more than three decades.

INTRODUCTION

year-END Metrics

12/29/23 - 1/02/25 (AS COMPARED TO 12/30/22 - 1/04/24) Luminate's 2024 tracking year ran from December 29, 2023, to January 2, 2025, and included 53 weeks due to a rare calendar occurrence. (The last time this happened was in 2018.) For accurate year-over-year comparisons in this report, a 53-week period for 2023 is used (December 30, 2022, to January 4, 2024).

ABOUT LUMINATE

Luminate is the preeminent entertainment data and insights company, unleashing access to the most essential, objective, and trustworthy information across music, film, television, gaming, short-form video and more. Luminate’s databases house information compiled from over 500 verified sources, managing more than 20 trillion data points. Contact us at www.luminatedata.com to learn more.

Streaming’s New Frontiers

On-Demand Audio (ODA) streaming continued to grow globally in 2024 but, when looking at U.S. growth versus the rest of the world, ODA streaming in ex-U.S. territories grew collectively at a faster rate of +17.3%, while the U.S. growth rate was +6.4%. In the following report, we take a look at these streaming growth trends through the lenses of specific countries, platforms and service types. For example, premium streaming — meaning paid subscriptions and not solely ad-based — is growing its overall share around the world. The share in Latin American countries has grown the most since 2021 but, when looking at growth in just 2024, countries from Eastern Europe and Asia lead.

We also take a look at listenership trends and preferences by audience internationally. Ad-supported streamers in Mexico over-index in Easy Listening music streaming versus the rest of Latin America, but those listeners do not consume Religious music at the same rate as the rest of the region. When it comes to the U.S. market specifically, the genre story changed slightly in the second half of the year. In our 2024 Midyear Music Report, we shared that Latin was the fastest-growing genre by ODA streaming point share. But activity in the second half of the year saw Pop edge out Latin to become the fastest-growing genre over the full year. Pop finished the year with +0.48 points to Rock's +0.40 increase. Artists like Taylor Swift, Billie Eilish and Sabrina Carpenter helped establish Pop’s rise.

Global SOUND System

As streaming platforms facilitate the spread of music across borders, an opportunity arises to increase a country’s cultural impact through music in foreign territories. In the following report, we rank the Top 10 countries by recorded music export power and break down the three countries importing the most from these export markets. Using the methodology that combines artist rank, country market share, number of artists exported and number of countries importing “foreign” artists’ content, we see that the United States is the largest exporter, with Canada, Australia and New Zealand importing the most from the U.S. In Luminate’s inaugural ranking of export power we also see countries like South Korea and Brazil in the Top 10. This analysis shows us English and non-English-language countries are preforming differently. English-speaking countries are losing local share to non-English language imports. Using metadata from Luminate's Data Enrichment product (formerly Quansic, acquired in January 2024 and scheduled to be fully integrated by April 2025), we analyze songwriter representation among 2024's Top 1K most-streamed songs. The U.S. leads globally, followed by the UK, Canada, Sweden, and France.

Further Down the Pyramid

Tens of thousands of tracks continue to be uploaded to streaming platforms every day. On average, that daily number in 2024 was 99K. And while the most-streamed songs and artists are rightfully being analyzed and written about, we must take a look at the songs further down the pyramid to fully understand the music landscape of 2024. In the following report, we provide a deep-dive look at how genres are represented amongst songs that have achieved certain streaming numbers. Our data shows that Pop, Country and Holiday/Seasonal over-index in U.S. streaming volume for tracks with 100M+ streams while more niche genres display greater prominence further down the tail. We also dig deeper into consumer research insights behind listeners of the latter genres, specifically how that music is discovered by its core listenership.

Streams & Screens

In the era of streaming and bottomless playlists, understanding how, where and when music listeners are discovering new songs and artists is more important than ever. In the following report, we analyze music discovery behaviors across film, TV, virtual engagement, gaming and more. We also use Luminate’s Streaming Viewership (M) tool to highlight the most-watched music documentaries across all major SVOD platforms in 2024, and provide a case study on how those titles can affect the streaming consumption of a documentary subject’s catalog.

Global Sound System

Further Down the Pyramid

FANS & BRANDS

STREAMS & SCREENS

Setting the Stage

SETTING THE STAGE

Live music attendance continues to boom in a post-pandemic world. Luminate’s latest industry-leading consumer research data sheds light on behaviors and attitudes toward concert and festival attendance. In the following report, we showcase how U.S. Gen Z music listeners spent more than any other generation on live music events, including music festivals. This past year marked the first time Gen Z topped other generations in overall live event spend, but Millennials still reported spending the most specifically on concerts (not inclusive of festivals). We also provide insights surrounding ticket price attitudes, concertgoer demands for different genres and more.

Fans & Brands

At Luminate, we started sharing insights around super fans in 2021. However, as the term continues to be a central fixture in conversations surrounding album release strategies and touring, we’ve deepened our analysis. In the following report, we share the latest data around super fan behaviors and how they affect overall music consumption. For example, artists are continuing to solidify their direct relationships with fans, which is most evident by the fact that Direct-To-Consumer (D2C) music sales continue to increase. D2C sales made up 63% of first-week physical album sales in 2024 among the U.S. Top 200 albums of the year, and 31.9% of first week album activity (sales and streaming) among those. In 2024, we also launched the Luminate Index, a new composite metric for understanding the depth, breadth and affinity of an artist’s fandom among U.S. consumers. The five unique components — streaming, social media footprint, awareness, public perception and fan engagement — each contribute to the composite score, while focusing on different audience segments drives new insights, allowing brands to make better decisions when it comes to artist partnerships.

YEAR-END METRICS

click on TABSTO VIEW METRICS

Notes on Trend Break

Canada Catalogue vs. Current

Canada Metrics

U.S. Catalog vs. Current

U.S. Metrics

Global Metrics

Notes on Trend Break*

Due to changes in methodology and provider reporting, two trend breaks occurred in 2024, which means we are unable to provide an accurate representation of year-over-year changes (2024 vs. 2023) in the following two areas:

Independent Retail Physical Sales: As previously reported, Luminate changed the methodology behind its independent retail sales reporting beginning Week 1 of 2024. While the new modeled methodology more accurately represents the independent retail market, we do not have comparable historical data to provide an accurate year-over-year trend. Therefore, independent retail physical sales under the new methodology for 2024 are isolated and no trending is provided versus 2023. U.S. Vinyl sales are +4.3% in 2024 compared to 2023 when excluding the independent retail strata. Video: A change in provider reporting was made in January 2024 that affects the Non-Song UGC category. Due to this change, we are unable to provide video trending. All video numbers represented in this report are either stand-alone snapshots in time or do not include the impact of the Non-Song UGC changes. These instances are noted throughout.

Current Share

*Click here for an important note regarding U.S. physical sales reporting

+ 12/29/23 - 1/02/25 (AS COMPARED TO 12/30/22 - 1/04/24)

Vol. Change

+15.1%

1.99T

2.29T

2023+

2024+

Global Metrics

Streaming remains a dominating force in music consumption, making up 91.3% of equivalent activity in the U.S. However, where audio streaming is growing - both in the U.S. and Internationally - continues to evolve. Luminate provides context on streaming activity and audience insights.

Streaming's NEW FRONTIERS

79.5% of U.S. On-Demand Audio (ODA) Streams are from Songs Released in 2010 or Later

Nearly one in two U.S. On-Demand Audio Streams are of tracks released in the last five years (2020-2024)

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

Global Subscriber Growth for Major U.S.-Based SVOD Services For companies reporting subscribers every quarter

SOURCE: LUMINATE MUSIC CONSUMPTION DATABASED ON TOP 500K U.S. ON-DEMAND AUDIO TRACKS

U.s. on-demand audio streaming by decade

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

Weekly Ex-U.s. On-Demand Audio STREAMING

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

SOURCE: LUMINATE MUSIC CONSUMPTION DATA *Melon & Flo was added as Luminate data providers in June/July 2023

COUNTRIES GROWING THEIR PREMIUM STREAM SHARE THE MOST Though LATAM leads in Premium streaming growth overall since 2021, countries in Eastern Europe and Asia have GROWN the most in the past year

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

genre share of u.s. on-demand audio streaming that is current, catalog and deep catalog World, Latin and Country lead with share of genre streaming that is Current (18 months old or newer). Latin and Country have continued to be two of the fastest growing genres in the U.S. and this illustrates the influence of new, high impact hits

Kendrick Lamar TK

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

SONG RELEASES BY HALF-YEAR XYXYXYXYXYXYXYXYXYXYXYXYX

An expanding Global marketplace is allowing more international artists to connect with worldwide audiences. New data attributes for Luminate analysis including international genre activity, Artist Country of Origin, Songwriter (ISWC) and more provide new context for planning and forecasting.

Global Sound System

COUNTRY OF ORIGIN OF TOP SONGWRITERS (Nos. 2-10 Ex-U.S.) count of songwriters from each country throughout the top 1k global on-demand audio songs

THE SHARE OF STREAMING THAT OCCURS OUTSIDE THE TOP 10K TRACKS CONTINUES TO GROW. IN 2024, THESE TRACKS MADE UP 31.9% OF GLOBAL ON-DEMAND AUDIO STREAMING COMPARED TO 40.1% IN 2022. AS THE TAIL IS INDEED GETTING LONGER, LUMINATE'S PYRAMID ANALYSIS REFLECTS THE AMOUNT OF TRACKS MAKING THE BIGGEST IMPACT AND OUR NEW TIER INDEXING SHOWS WHICH GENRES OVER-INDEX WHERE IN THE U.S.

Further Down the Pyramid

TOTAL AUDIO ISRCs

202M

Audiences sit at the heart of artist growth strategies, and these fans - and Super Fans alike - continue to drive increased demand across streaming / digital consumption, physical, direct-to-consumer, live and other channels. In order to capture the key demographic and psychographic points, Luminate Index, an audience-centric view of fandom, is a new metric to provide data-driven insights for both the music and the broader brand/advertising ecosystems to understand “Band and Brand” alignment

Fans & Brands

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q3 2024)

SUPER FANS SPENDING

SUPER FANS SPENDING For companies reporting subscribers every quarter

Luminate index top 10 by gen pop

individual components among three select artists dotted line represents the average artist

ARTIST TK

Music discovery continues to evolve - with significant differences across audience generations, genres and geography. Luminate is providing trending across discovery, as well as continued understanding of both the value and growth of video streaming, gaming and evolving valuation impact.

Music (Discovery) Is All Around Us

TOP 10 MUSIC DOCUMENTARIES 2024 Ranked by minutes watched on Streaming Video On-Demand Platforms

ARTIST TK

Music (Discovery) Is All Around Us

Average Daily ISRC Delivery to DSPs

There was an average of 99K new ISRCs** delivered to DSPs (digital service providers like Spotify, Apple Music, YouTube et al.) each day in 2024, which is down 4.4% from 2023 when there was an average of 103.5k delivered each day.

Ex-U.S. On-Demand Audio (ODA) Streaming

ODA streaming grew in both the U.S. and Ex-U.S. markets in 2024, but Ex-U.S. territories are growing at a faster rate of 17.3% compared to the U.S. ODA growth rate of 6.4%.

PREMIUM STREAMING SHARE BY REGION

Average Growth of Premium Share by Market (2024 vs. 2023)

Read as: [Market]'s share of premium streams has grown by +xx pts when comparing 2024 vs. 2023.

What Streamers Are Listening to in Select Territories

Understanding the nuances of listenership across markets provides insights on what's popular where and with whom. For instance, ad-supported streamers in Mexico over-index in Easy-Listening streaming versus the rest of Latin America, but these listeners do not consume Religious genre music at the same rate as their region.

What Ad-Supported Streamers Are Listening to in Select Territories

Genres that over- or under-index for ad-supported streaming in these territories

After growing +12.6% in the U.S. in 2023, audio volume growth held +6.4% in the U.S. in 2024; when comparing for two year growth, the average volume of ODA streams per week in 2024 (25.2B) is +19.8% over 2022 (21.3B).

weekly u.s. on-demand audio streaming

U.S. On-Demand Audio (ODA) Streaming

R&B/Hip-Hop leads in overall ODA streaming volume with more than 1 in every 4 U.S. streams being from the genre. The genre is facing increased competition as its overall ODA share is down 2.3 points since 2023.

U.S. Core Genre Trends in 2024

TOP 10 CORE GENRES ranked by u.s. on-demand audio streaming volume

Pop grows its share of audio streaming the most in 2024, with +.48 points to Rock's +.40 increase. Pop was led by Taylor Swift, Billie Eilish and Sabrina Carpenter.

Pop Edges Out Rock as the Fastest-Growing Genre in 2024

FASTest-growing core genres in the u.s. ranked by on-DEMAND audio share point changes in 2024 vs. 2023

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Hed Tk Xyx yxyx yxyx

POP ARTIST RANK top 10 U.S. Pop Artists by On-Demand Audio (ODA) streaming volume

Vital Stats for the Fastest-Growing Genres

Key Stats To Know for Each of the Five Fastest-Growing Genres in the U.S.

As Streaming Growth Matures in the U.S.: What’s Happening at the Metro-Level?

Boston and San Antonio increased their share of total U.S. On-Demand Audio (ODA) streaming by +.38 and +.36 point since 2021, respectively, marking the biggest metro-level increases during that time. Four of the Top 10 share-gaining metro areas since 2021 are markets ranked No. 20 or below in ODA volume as mid-level markets pick up share.

FASTEST-GROWING MARKETS by u.s. oda market share, 2021 t0 2024

With the ability to have multiple ISRCs (tracks) per song, analyzing growth trends at the song-level is helpful to determine new release volume. In 2024, the number of overall song releases held steady with the previous year, with the five-year peak in new song releases remaining H2 2022.

Number of Individual Song Releases Holds Steady

SONG RELEASES BY YEAR XYXYXYXXYYXYXYX

SOURCE: LUMINATE MUSIC CONSUMPTION DATA MAP DATA REFLECTS THROUGH WEEK 39, 2024

Biggest Genre Growth AT THE u.S. METRO LEVEL The Latin and Country genres are two of the fastest growing in the U.S., and metro-level analysis shows that these genres have grown the most share at the metro-level since 2021. Read as: "In [metro area], the highest share increase in on-demand audio streaming from 2021 to 2024 was from [genre]"

As U.S. Consumption Trends Evolve, So Do DSP Subscribers

U.S. audiences across DSPs spend money, prioritize platform features and discover music in different ways via playlists

SOURCE: LUMINATE INSIGHTS - US ENTERTAINMENT 365 (Q1-Q3 2024)

While Different U.S. Audiences and Genre Fans Share Different Perspectives on Generative AI

When prompted by the statement “I think Generative AI [ChatGPT, Mid Journey, Alpha Code, etc.] will have a positive impact on the entertainment industry,” U.S. music streamers vary in response.

Top 10 Countries in Global Export Power

As global digital service providers (DSPs) facilitate the spread of music across borders, there’s an opportunity to increase a country’s cultural impact through music in foreign territories as well as identify clusters and analyze music trade relationships. The Luminate Export Power Score is a metric designed to evaluate a country’s ability to export recorded music globally. This score is a combination of four data points: the rank of artists in each country based on Total On-Demand Streaming and Country of Origin; the number of countries importing music from a given export country; the streaming size of importing countries and the number of artists per export country reaching international audiences.

Artists from the United States still hold the most Global premium streaming share overall, but down 0.44 percentage share points since 2023.

Share of Global Premium (Audio + Video) Streaming Grows the Most for Artists from Mexico, Brazil and India

largest gains in global premium stream share by country of origin

largest DECLINES in global premium stream share by country of origin*

ENGLish-speaking markets losing share to imports Read as: In the U.S., artists from XX country are gaining / declining in streaming share based on Artist Country of Origin

English and non-English-language countries tend to show different trends in local vs. foreign content. English-speaking markets are losing local share to non-English language imports...

…while many non-English speaking markets show local content gaining share

NON-ENGLish-speaking markets GAINIng share of local content

This Cultural Exchange Helps Grow Genres Outside Of Their Native Regions

CLICK ON TABS TO SEE WHERE EACH GENRE IS GROWING its premium streaming share the most OUTSIDE its OWN REGION.

MOST-PROLIFIC SONGWRITERS worldwide count of songs by a songwriter in the worldwide top 1K songs ranked by on-demand audio, week 1 - 45, 2024

Songwriting and Composition Also Helps Drive Cultural Exchange

most-streamed SONGWRITERS worldwide ODA streams of songs by a songwriter in the worldwide top 1K songs. week 1-45, 2024

And Where are They From?

The U.S. leads in presence throughout that Top 1K Global audio tracks with 863 songwriters while the countries below rank Nos. 2-10 in ex-U.S. markets. Though not part of the Top 10 Countries by Recorded Music Export Power, Norway and Colombia have significant songwriting presence on the Global stage.

2024 Global Audio Track Streaming Pyramid

An additional 8.5K tracks (ISRCs) reached the 10M streaming threshold vs. 2023.

Genres That Over-Index in the U.S. Audio Track Streaming Pyramid

In the U.S., Pop, Country and Holiday / Seasonal over-index in streaming volume for tracks with 100M+ streams.

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q3 2024)

How Fans in Select Genres Discover Music Specialized content and live music events are key for music discovery of these genres

But this group has grown from 18% in 2023 with live music attendance benefitting substantially.

20% of U.S. Music Listeners Are Considered Super Fans

SUPER FANS DEMOGRAPHICS (compared to U.S. Music Listeners of each respective group)

POP ARTIST RANK xyxyxyxyxyxyx

For these fans it’s all about connection, community and expression.

Top U.S. Super Fan Activities

Top U.S. Super Fan Activities by Genre

But when looking at super fans by genre there are different behaviors that over-index the most.

SOURCE: LUMINATE MUSIC CONSUMPTION DATA *FIRST WEEK ACTIVITY BASED ON ALBUMS W/TEA W/SEA ON -DEMAND

U.S. D2c (PHYSICAL + DIGITAL) percentage of first week activity TOP 200 ALbums each year 2020-2024

At an industry level, physical and Digital D2C make up a larger share of first week album sales for R&B/Hip-Hop, Pop and Country.

Release Week Direct-to-Consumer Activity By Genre

total d2c share of AVERAGE U.S. release week ALBUM sales physical + digital AT THE INDUSTRY LEVEL

The Luminate Index

Having the right message for the right consumer at the right time is a core element of today's marketing strategy. Not every artist will be equally impactful with every audience, and understanding the nuances of these metrics leads to artist/brand alignment. The Luminate Index is a new composite metric for understanding the depth, breadth and affinity of an artists’ fandom among U.S. consumers. The five unique components (Streaming, Social Media Footprint, Awareness, Public Perception and Fan Engagement) each contribute to the composite score and focusing on different audience segments drives new insights.

GEN Z AUDIENCE

But different audiences are more influenced by different artists

HISPANic/LATIN AUDIENCE

Top 10 Music Documentaries of the Year

U.S. Millennial music listeners are +30% more likely than the average listener to discover music through exclusive TV shows from streaming platforms.

THE beach boys global on-demand audio streams

The release of the documentary The Beach Boys drove significant on-demand audio streaming activity to the group’s catalog, creating a lift that sustained deep into 2024. During the final week of Q3 this year (week ending 9/26/24), Global On-Demand Audio streams (17.9M) for the group’s catalog still remained +3.6% over the 17.3M average during the 12 weeks before the announcement this year. Controlling interest in The Beach Boys intellectual property purchased by Iconic Artists Group in February 2021

The Beach Boys

Gaming Impact on Consumption…

Fortnite Remix partnered with Snoop Dogg, Eminem, Ice Spice and Juice WRLD for a month long campaign in November 2024 that resulted in significant audio streaming increase for a different artist each week.

All-female K-Pop group TWICE hosted a Meet & Greet on Roblox with their “ONCE” super fans on Saturday, 11/23/24, immediately driving a 6.4% (+2.6M) Global increase in On-Demand Audio streams the week ending 11/28/24.

… and Virtual Engagement Can Drive Fandom

TWICE U.S. and Ex-U.S. ON-DEMAND AUDIO STREAMING TRENDS TWICe and roblox announced virtual on-platform meet & greet 11/23/24

SOURCE: US MUSIC 360 (Q3 2024)

Listeners are finding new music through a variety of sources, but certain genre fans gravitate toward specific platforms

Music is the NO. 1 leisure activity in the U.S. with 75% of consumers counted as music listeners. Since music can also be enjoyed in both lean-forward and lean-back ways, there is considerable opportunity to develop new ways of discovery by pairing artists and songs with other entertainment formats like movies and video games. Luminate is providing trending across music discovery to understand the value and growth of streaming video on-demand (SVOD), gaming and evolving valuation impact.

Streams & Screens

In 2024 Gen Z raised its hand as the biggest spender on live music events among U.S. generations. While this was driven by festival spending, price sensitivity is becoming a bigger factor for the live music event space that continues to reset after the COVID period. Luminate continues to closely track both audience sentiment and listening to understand correlations that can provide predictive signals essential to successful tour planning and ticketing.

Setting the Stage

TOTAL LIVE SPEND xyxyxyxyxyxyx

This spend was driven by festivals as Gen Z tops other generations in overall live event spend for the first time, but Millennials still report spending the most on concerts.

U.S. Gen Z Spent the Most on Live Events in 2024

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q1-Q3 2024)

FESTIVAL SPEND U.S. Concert goers

Spend & Attendance

As Gen Z assumes the concert-going mantle, demand for live Electronic / Dance Music, Afrobeats and Indie Rock events in the U.S. poised to grow due to their over-indexing in listenership.

Future Trends to Watch in Live

MONTHLY GENRE LISTENERSHIP AMONG GENERATIONS

Venue Sales Remain Below Pre-Pandemic Levels

Rock leads Venue sales in volume; Nearly 1 in 10 Christian / Gospel physical album sales are at a venue

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

U.S. VENUE ALBUM SALES BY GENRE XYXYXYXYXYXYXXYXY

VENUE BY SALES FORMAT XYXYXYXYXYXYXXYXY

YEAR-END CHARTs

Interested in learning more?

FIND OUT MORE

2024 Has 53 Chart Weeks Luminate's 2024 tracking year ran from December 29, 2023, to January 2, 2025, and included 53 weeks due to a rare calendar occurrence. (The last time this happened was in 2018.) For accurate year-over-year comparisons in this report, a 53-week period for 2023 is used (December 30, 2022, to January 4, 2024). EXPORT POWER The Luminate Export Power Score is a metric designed to evaluate a country’s ability to export music globally. This score is a combination of four data points: the rank of artists in each country based on Total On-Demand Streaming and Country of Origin; the number of countries importing music from a given export country; the streaming size of importing countries and the number of artists per export country reaching international audiences. SONGWRITER INFORMATION Data enrichment brings together data from the top recordings of the year and information about the songwriters of those recordings. This analysis is based on the top 1K songs worldwide ranked by on-demand audio streams from Week 1 - Week 45 of 2024. Tracks often have multiple songwriters, so the counts of songwriter and the streams are based on a one-to-many relationship. Any recordings which did not have associated songwriter information were excluded from the analysis. LUMINATE INDEX The Luminate Index is a composite metric meant to provide labels, brands and agencies with an understanding of the depth, breadth and affinity of an artist’s fandom among U.S. consumers. The five unique components (Streaming, Social Media Footprint, Awareness, Public Perception and Fan Engagement) each contribute to the composite score, with some components contributing more or less to the score than others. What determines a Super Fan?A super fan is someone who engages with artists and their content in many different ways. The data we collect represents the percentage of music listeners who engage with artists and their content in five or more ways from this list: Attend an in-person live music performance; talk about the artist with friends or family; attend a virtual live-music performance; purchase physical copies of music (e.g., vinyl, CDs, etc.); purchase physical merchandise; purchase digital copies of music (songs or albums); post about the artist on social media; interact with the artist on chat forums or networks (e.g., Discord, Reddit, etc.); sign up for artist newsletters; subscribe to a fan club or other fan group; tip artists in-person or virtually; purchase virtual merchandise; directly fund the artist (e.g., Venmo, CashApp, Patreon, etc.) What is Sharepoint Change?Throughout this report there are references to “sharepoint change.” An example of this is in the “U.S. Fastest-Growing Genres” section where Pop shows a .48 gain relative to other genres. Sharepoint change measures how much one share increases or decreases relative to another, taking volume into account and expressed in percentage points rather than raw percentages. What are the Trend Breaks in 2024?Independent Retail Physical Sales: As previously reported, Luminate changed the methodology behind its independent retail sales reporting beginning Week 1 of 2024. While the new modeled methodology more accurately represents the independent retail market, we do not have comparable historical data to provide an accurate year-over-year trend. Therefore, independent retail physical sales under the new methodology for 2024 are isolated and no trending is provided versus 2023.Video: A change in provider reporting was made in January 2024 that affects the Non-Song UGC category. Due to this change, we are unable to provide video trending. All video numbers represented in this report are either stand-alone snapshots in time or do not include the impact of the Non-Song UGC changes. These instances are noted throughout.

METHODOLOGY

The 2024 Music Year-End Report is powered by Luminate’s industry-leading music consumption, data enrichment and consumer research insights products. Statistics and insights contained in this report are sourced directly from commercially available data and products. CONNECT Music Consumption - The music industry standard, which aggregates data from over 500 verified streaming, retail and airplay sources and tracks millions of artists, albums and songs globally and powers the Billboard Charts. Data Enrichment (formerly Quansic) - Expanded music metadata cleaning, matching and enrichment services providing both music content identifiers (ISWC, ISRC, streaming service IDs) and descriptive data (genre, release date, language, cover songs) for better discovery and streaming activity reporting. Film & TV Entertainment Data and Streaming Viewership (M) - integral Film & TV descriptive and production metadata paired with streaming original viewership performance metrics for timely understanding of video content engagement across U.S. streamers. Audience Insights - Consumer research syndicated studies and analysis conducted with market research best practices and rigor including: U.S Music 360 & Regional Music 360: Consumer behaviors and preferences related to music fan engagement, including music and artist discovery, genres and language preferences, time and money spent, streaming and platform use and live music preferences Artist & Genre Tracker: Consumer behaviors and preferences related to music fan engagement with artists and across genres, including awareness, likability, perceptions, discovery, merchandise, purchasing and influence U.S. Entertainment 365: Consumer behaviors and preferences related to entertainment and how consumers spend their leisure time across all available entertainment channels, including time and money spent, discovery and engagement, platform preferences, subscription models, motivations and category purchasing To learn more about how to access the data and products, please contact us HERE

DATA SOURCES

YEAR-END CHARTS

On-Demand Streaming: Audio

+ 12/29/23 - 1/02/25 (AS COMPARED TO 12/30/22 - 1/04/24) *EXCLUdes u.s. independent retail strata sales** SEA (STREAM-EQUIVALENT ALBUMS): 1250 PREMIUM STREAMS = ONE ALBUM // 3750 AD-SUPPORTED STREAMS = ONE ALBUM; TEA (TRACK-EQUIVALENT ALBUMS): 10 DIGITAL TRACKS = ONE ALBUM

U.S. Metrics

u.s. total album consumption* album + tea + Sea on-demand audio**

u.s. total digital music consumption digital albums + tea + sea on-demand audio**

on-demand streaming audio

physical album sales* includes vinyl lp, cds and cassettes

digital album sales

U.S. Indie Retail excluded + 12/29/23 - 1/02/25 (AS COMPARED TO 12/30/22 - 1/04/24)* SEA (STREAM-EQUIVALENT ALBUMS): 1250 PREMIUM STREAMS = ONE ALBUM // 3750 AD-SUPPORTED STREAMS = ONE ALBUM; TEA (TRACK-EQUIVALENT ALBUMS): 10 DIGITAL TRACKS = ONE ALBUMCatalog = Older than 18 months

U.S. Current vs. Catalog Consumption Total Album Equivalent Consumption (Album+TEA+On-Demand SEA Audio*)

*Click here for an important note regarding U.S. physical sales reporting

current total album consumption

Catalog Share

CATALOG total album consumption

+ 12/29/23 - 1/02/25 (AS COMPARED TO 12/30/22 - 1/04/24) * SEA (STREAM-EQUIVALENT ALBUMS): 1250 PREMIUM STREAMS = ONE ALBUM // 3750 AD-SUPPORTED STREAMS = ONE ALBUM; TEA (TRACK-EQUIVALENT ALBUMS): 10 DIGITAL TRACKS = ONE ALBUMCatalog = Older than 18 months

CANADA Current vs. Catalogue Consumption Total Album Equivalent Consumption (Album+TEA+On-Demand SEA Audio*)

Current Share

current total album consumption

CatalogUE Share

CATALOGUE total album consumption

+ 12/29/23 - 1/02/25 (AS COMPARED TO 12/30/22 - 1/04/24)* SEA (STREAM-EQUIVALENT ALBUMS): 1250 PREMIUM STREAMS = ONE ALBUM // 3750 AD-SUPPORTED STREAMS = ONE ALBUM; TEA (TRACK-EQUIVALENT ALBUMS): 10 DIGITAL TRACKS = ONE ALBUM

CANADA Metrics

CANADA total album consumption album + tea + Sea on-demand audio*

CANADA on-demand song streaming Audio

CANADA total PHYSICAL ALBUM SALES lps, cds and cassettes

U.S. on-demand audio streams by release year

SOURCE: LUMINATE MUSIC CONSUMPTION DATABASED ON TOP 500K U.S. ON-DEMAND AUDIO TRACKS

click on map tO VIEW METRICS

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

click on map tO VIEW METRICS

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

click on map tO VIEW METRICS

click on GENRE tO VIEW INSIGHTS

POP

ROCK

COUNTRY

LATIN

CHRISTIAN/GOSPEL

Release Week Direct-to-Consumer Sales Grow in Share of Activity

Catering to U.S. super fans through Direct-to-Consumer (D2C) has increased as these sales make up 63% of first week physical album activity in 2024 (based on the Top 200 U.S. albums for the year), and 31.9% of first week total album activity for those.

2024: Share of average first week u.s. album equivalents by sales/streams

FESTIVAL SPEND U.S. Concert-goers

CONCERT SPEND U.S. Concert-goers

PREMIUM STREAMING IN SPOTLIGHT COUNTRIES

With streaming growth maturing in the U.S., International adoption of the format is a higher priority than ever. Additionally, the conversion from ad-supported to premium (subscription) streaming drives higher royalties. Brazil (No. 4), Indonesia (No. 8) and France (No. 10) all rank in the Global Top 10 for Total On-Demand (Audio + Video) Streaming volume, but rank 34, 48, 26, respectively, in share of Premium streaming. Understanding market volumes and Premium growth rates helps copyright owners choose markets with the most opportunity.

POP

Though there are 47 female Pop artists in the genre’s Top 100, women drive 63.4% of Pop audio streaming.

ROCK

The Rock genre was slightly more top-heavy in 2024 as the Top 5 artists accounted for 5.8% of the genre’s On-Demand Audio (ODA) streaming compared to 3.8% in 2023.

1/17

Nearly 1 in every 17 U.S. Rock ODA streams was either Noah Kahan, Hozier, Linkin Park, the Beatles, or Fleetwood Mac

LATIN

Regional Mexican is driving Latin’s growth in the U.S. and is now the largest Latin Subgenre.

COUNTRY

Not only has U.S. Country music continued to grow in the U.S., but the share of genre ODA streams in EX-U.S. territories is +7.71 share points since 2020.

CHRISTIAN/GOSPEL

Younger audience of Christian/Gospel is growing and the average listener is spending 19% more time with music than they did in 2022. Gen Z Christian/Gospel fans are +20% more likely to cite Friends/Relatives than the average Christian/Gospel fan, demonstrating the importance of their close, trusted network for music recommendations.

XAVI Courtesy of Luis Hernandez

TAYLOR SWIFT CREDIT: Christopher Polk

KENDRICK LAMAR CREDIT: pgLang

SABRINA CARPENTER CREDIT: Christopher Polk

BILLIE EILISH CREDIT: Christopher Polk

OLIVIA RODRIGO CREDIT: Christopher Polk

NOAH KAHAN CREDIT: Michael Buckner

PESO PLUMA CREDIT: CHRISTOPHER POLK

KANE BROWN CREDIT: Christopher Polk

LAUREN DAIGLE COURTESY PHOTO

FUERZA REGIDA CREDIT: Christopher Polk

KARAN AUJLA COURTESY PHOTO

MRS. GREEN APPLE CREDIT: Gilbert Flores

DANIEL NIGRO CREDIT: Gilbert Flores

JELLY ROLL CREDIT: Scott Legato

RIHANNA CREDIT: John Nacion

J. BALVIN CREDIT: Lexie Moreland

THE BEACH BOYS CREDIT: DISNEY+

TWICE COURTESY PHOTO

CHAPPELL ROAN CREDIT: Christopher Polk

TEMS CREDIT: Roderick-Ejuetami

BRUNO MARS COURTESY John Esparza

BENSON BOONE CREDIT: John Nacion

DUA LIPA CREDIT: Christopher Polk

Grace Bowers CREDIT: Michael Buckner

KAROL G CREDIT: Gilbert Flores

TOMMY RICHMAN Courtesy of Alf Bordallo

HOZIER CREDIT: Sacha Lecca/Rolling Stone

CHARLI XCX CREDIT: Harley Weirlisten

SOURCE: LUMINATE MUSIC CONSUMPTION DATA*Inclusive of independent distribution and DSPs that cater to creator network **ISRC is the "International Standard Recording Code"

Gen Z (Index: 153) or Millennial (128)

LGBTQ+ (131)

Single (122)

of Classical fans have discovered music via Music-related websites, which is 48% more than the average U.S. music streamer

22%

of Jazz fans have discovered music via Podcasts, which is 58% more than the average U.S. music streamer

21%

of Blues fans have discovered music via Live music events (e.g. concerts, festivals), which is 79% more than the average U.S. music streamer

33%

of U.S. Bollywood music fans discover new music through Exclusive TV Shows on Streaming platforms, making them 133% more likely to do this than the average U.S. music listener

53%

of U.S. J-Pop fans discover new music through Short Form Video platforms, making them 73% more likely to do this than the average U.S. music listener

53%

of U.S. Afrobeats / Afropop music fans discover new music through Twitch, making them 188% more likely to do this than the average U.S. music listener

14%

of Afrobeats super fans have attended a live music performance in the last 12 months (Index 164 vs Average U.S. music listener)

97%

of Country super fans post about artists on Social Media (Index 321 vs Average U.S. music listener)

68%

of Hip-Hop/R&B super fans have attended a virtual live performance in the last 12 months (Index 265 vs Average U.S. music listener)

69%

of K-Pop super fans have purchased physical copies of music (Index 261 vs Average U.S. music listener)

73%

of J-Pop super fans purchase physical merchandise (Index 292 vs Average U.S. music listener)

76%

of Rock super fans purchase physical merchandise (Index 285 vs Average U.S. music listener)

75%

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q3 2024)

SOURCE: Luminate Music Consumption Data

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q1-Q3 2024)

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

World Music genre streamers are +79% more likely to agree with this statement than the average U.S. music streamer

+79%

New Age music streamers are +68% more likely to agree with this statement than the average U.S. music streamer

+68%

Dance/Electronic music streamers are +32% more likely to agree with this statement than the average U.S. music streamer

+32%

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

SOURCE: LUMINATE MUSIC CONSUMPTION DATA NOTE: A SINGLE TRACK CAN HAVE MULTIPLE SUBGENRES IN THE LUMINATE SYSTEM

Latin Subgenre U.S. On-Demand Audio (2021-2024)

COUNTRY GENRE: U.S. and EX-U.S. AUDIO STREAMING

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

SOURCE: US Music 360 Q3 2024

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

SOURCE: LUMINATE INSIGHTS CONSUMER RESEARCH DATA, MUSIC 360, WAVE 3 2024 *Index is compared to the average U.S. music streamer

Percent of music streamers to agree by generation

GEN Z 27% MILLENNIAL 20% GEN X 18% BOOMERS 16%

SOURCE: LUMINATE MUSIC CONSUMPTION DATA*EXCLUDES TERRITORIES; PUERTO RICO RANKS SECOND WITH -0.46 SHARE POINTS

Toggle Numbers to View the Top Importers of this Country's Content

SOURCE: Luminate Music Consumption Data

UNITED STATES

click on COUNTRY tO VIEW INSIGHTS

UNITED KINGDOM

AUSTRALIA

52%

of Gen Z Music Streamers in the U.S. report listening to artists from outside of the U.S., which is a 10% increase over 2023

SOURCE: LUMINATE MUSIC CONSUMPTION DATA; LUMINATE INSIGHTS CONSUMER RESEARCH DATA US M360, 2024 WAVE 3 *EXCLUDES TERRITORIES; PUERTO RICO RANKS SECOND WITH -0.31 SHARE POINTS

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

PHILIPPINES

JAPAN

BRAZIL

click on COUNTRY tO VIEW INSIGHTS

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

R&B / HIP-HOP

CHRISTIAN / GOSPEL

COUNTRY

CLICK ON TABS TO SEE GENRE DETAILS

LATIN

SOURCE: Luminate Data Enrichment Services

Super fans report that they spend $113 a month on Live Music Events ($45 / +66% more than the average music listener who spends $68 a month)

$113

Super fans also report that they spend $39 on Physical purchases ($20 / +105% more than the average music listener who spends $19 a month)

$39

SUPER FANS IN 2024 vs. 2023

CANADA total ALBUM SALES PHYSICAL + DIGITAL

Ex-U.S. On-Demand Audio Song Streams

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (2022-2024)

90% (Index: 153) of super fans engage with artists by attending an in-person live music performance, compared with 59% of Music Listeners

90%

81% (Index: 198) of super fans engage with artists by talking about them with friends or family, compared with 41% of Music Listeners

81%

73% (Index: 281) of super fans engage with artists by purchasing physical merchandise, compared with 26% of Music Listeners

73%

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q3 2024)

u.s. rap/hip-hop fans are also 130% more likely to buy merch from an artist's online store than the average music streamer

SOURCE: LUMINATE MUSIC CONSUMPTION DATA:LUMINATE INSIGHTS CONSUMER RESEARCH DATA US M360, 2024 WAVE 3

SOURCE: LUMINATE INSIGHTS - LUMINATE INDEX (Q3 2024)

SOURCE: Luminate Streaming Viewership (M); LUMINATE INSIGHTS MUSIC DOCUMENTARY MOVIES ONLY; DOES NOT INCLUDE MULTI-EPISODE TV SHOWS

2024 U.S. indie retail

59% of K-Pop Fans agree/strongly agree that a meet and greet / chat with the artist before, after, or during, a virtual concert helps/would help them feel connected to that artist(Index 134 to average U.S. Music Listener)

TOTAL LIVE SPEND U.S. CONCERT-GOERS

In Q3 2023, 68% of U.S. music listeners said ‘ticket cost’ would be a barrier to concert attendance, representing a new high in Luminate Insights audience reporting

68%

In Q2 2024, Gen Z spent more money on concerts monthly than any other generation, spending 23% MORE per month than the average U.S. music listener

+23%

CONCERT ATTENDANCE IN THE PAST YEAR AMONG ...

SOURCE: LUMINATE INSIGHTS - US MUSIC 360 (Q1-Q3 2024)

U.S. Hip-Hop/Rap listeners are +67% more likely than the average listener to discover music through video games

SOURCE: LUMINATE MUSIC CONSUMPTION DATA; LUMINATE INSIGHTS

BRAZIL PREMIUM STREAMS - WEEKLY TREND +18.8% 2024 vs. 2023

FRANCE PREMIUM STREAMS - WEEKLY TREND +11.6% 2024 vs. 2023

INDONESIA PREMIUM STREAMS - WEEKLY TREND +8.7% 2024 vs. 2023

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

U.S. Physical Album Landscape

58% of all U.S. physical album sales occur via e-commerce platforms like Amazon or Indie record stores. These Indie record stores also account for nearly 4 in 10 vinyl sales. Physical album sales remain a key way to connect with fans and super fans alike, and D2C’s prominence during release week is growing.

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

U.S. PHYSICAL ALBUM SALES BY Strata

Read as: At this tier, genre XX accounts for a larger share of audio streams compared to its share at the overall industry level, indicating that it over-indexes. For example, Holiday/Seasonal tracks make up 1.43% of the streaming in the 100m-500m tier and, because this is greater than Holiday/Seasonal's 1.03% of industry streams, it over-indexes.

SOURCE:COMPANY REPORTS; NOTE: APPLE TV+, AMAZON PRIME VIDEO EXCLUDED DUE TO LACK OF TRANSPARENCY ON SUBS NUMBERS; HULU TOTALSDO NOT INCLUDE HULU + LIVE TV

Global Subscriber Growth for Major U.S.-Based SVOD Services For companies reporting subscribers every quarter

Head Goes Here And Here And Hereyyyyyyy

Nearly one in two U.S. On-Demand Audio Streams are of tracks released in the last five years (2020-2024)

POP ARTIST RANK xyxyxyxyxyxyx

Hed Tk Xyx yxyx yxyx

Netflix’s rivals are now fighting for survival, pushing to turn streaming into a long term, profitable business to replace linear TV. Both Disney and Paramount posted positive quarterly DTC results in Q2 2024, but it’s now clear streaming profits cannot grow as fast as linear assets are shrinking, which will likely prolong the media sector’s current pain. Even as some turn a profit, it’s unlikely every SVOD will survive as an independent entity. The increased propensity for bundling likely presages a contraction of the field as entertainment companies pursue further M&A moves.

Head Goes Here And Here And Hereyyyyyyy

PREMIUM STREAMING SHARE BY REGION BASED ON 49 countries exposed in connect

SOURCE: Luminate Data Enrichment Services

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

SOURCE: Luminate Music Consumption Data

SOURCE: LUMINATE MUSIC CONSUMPTION DATA

on the cover: Teddy Swims: Christopher Polk; Beyoncé: Mason Poole; Taylor Swift: Christopher Polk; Shaboozey: Carlos Gonzalez